Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Austria Tabak, a firm that produces tobacco products, is to close its site in Linz with the loss of approximately 300 jobs. The announcement of the job losses follows the takeover of the firm by the multinational group Japan Tobacco International in April 2007. Following the takeover, management at Japan Tobacco International have decided to streamline the firm’s operations in Austria. The Linz site will be closed by 2010, and after that date all of the firm’s operations in Austria will be based at Hainburg in Lower Austria. Management at Austria Tabak have stated that they are to enter into negotiations with the works council at the Linz plant over the closure of the site.
Eurofound (2007), Austrian Tabak, Merger/Acquisition in Austria, factsheet number 65897, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65897.